Greater Vancouver Real Estate Market Statistics – August 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in August 2018.

Vancouver-West

In the Vancouver Westside, there were 59 sales of detached homes and 821 active listings at the end of the month. The benchmark sale price was $3,278,500, with average days on market of 66. The hottest markets for sales was Kitsilano with 11 sales.

In comparison, the condo market had 276 sales, 1,139 active listings and a benchmark sale price of $825,000 with an average of 30 days on market. The hottest market for sales was Downtown VW, 66. sales.

Townhome sales were 33, active listings were 203. The benchmark sale price was $1,267,800 with an average days on market of 43. Fairview VW with 8 sales was the hottest market of the month.

It’s a buyer’s market for townhouses and houses.

Vancouver-East

The Vancouver Eastside had 58 sales and 849 active listings for detached homes at the end of the month. The benchmark sales price was $1,529,200, and the average days on market were 44. The hottest sales market was Renfrew VE with 11 sales.

The condo market featured 112 sales, 351 active listings, and a benchmark sales price was $569,300. The average days on market were 24 days, and the hottest market for sales was Mount Pleasant VE with 42 sales.

The townhome market, on the other hand, had 19 sales and 87 active listings. The benchmark sale price was $894,200 with 27 average days on market. The hottest market for sales was Fraser VE with 5 sales.

It’s a buyer’s market for houses.

North Shore

In August, the North Vancouver market had 32 sales and 422 active listings for detached homes. The benchmark sale price was $1,649,700 with an average days on market of 54. Lynn Valley with 6 sales had the most sales activity.

There were 72 sales and 220 active listings for condos. The benchmark sale price was $596,400 with 25 average days on market. The neighborhood of Lower Lonsdale with 26 sales was the hottest sales market.

Townhome sales were 25, active listings were 96, the benchmark sale price was $1,030,100, and the average days on market were 34. Central Lonsdale with 4 sales had the most sales activity.

It’s a seller’s market for condos and townhouses.

West Vancouver

The West Vancouver market had 27 sales and 579 active listings for detached homes. The benchmark sale price was $2,832,600 with 65 average days on market. Ambleside with 3 sales was the neighborhood with the most sales activity.

Condo sales were 14 and active listings were 91 at the end of the month. The benchmark sales price was $1,190,200 with an average days on market of 27. Ambleside, Cypress Park Estates and Dundarave each had the most sales at 4.

In comparison, townhome market had 2 sales and 30 active listings.

It’s a buyer’s market in West Vancouver.

Coquitlam

In the Coquitlam market, there were 60 sales and 539 active listings for detached homes at the end of the month. The benchmark sale price was $1,305,300, and the average days on market were 39. Burke Mountain with 14 sales experienced the most sales activity.

The condo market had 85 sales and 298 active listings. The benchmark sale price was $552,500 with 30 average days on market. The hottest market for sales was North Coquitlam, 32 sales.

Townhomes featured 35 sales and 106 active listings. The benchmark sales price was $690,500 with an average days on market of 15. Burke Mountain, with 17 sales, had the most sales activity.

It’s a seller’s market for condos and townhomes.

Port Coquitlam

The Port Coquitlam had 18 sales and 172 active listings for detached homes. The benchmark sale price was $1,008,100 with an average days on market of 39. Glenwood PQ with 5 sales experienced the most sales activities of the month.

Condo featured 37 sales, 88 active listings, a $471,700 benchmark sales price, and 20 average days on market. Central Pt Coquitlam had the most sales activity at 28.

In comparison, townhome had 18 sales and 75 active listings. The benchmark sales price was $667,500 with an average days on market of 18. Riverwood was the hottest markets with 7 sales.

It’s a seller’s market for condos.

Port Moody

There were 5 sales and 100 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,529,200, and the average days on market were 48. North Shore Port Moody with 2 sales had the most sales activities for the month.

In comparison, townhome sales were 6, active listings were 25 and the benchmark sale price was $687,700. The average days on market were 24. Port Moody Centre, Heritage Mountain and North Shore Port Moody were the hottest market for sales with 2 sales each.

It’s a seller’s market for condos.

Maple Ridge

In the Maple Ridge market, there were 62 sales and 407 active listings for detached homes at the end of the month. The benchmark sale price was $870,200, and the average days on market were 31. East Central with 10 sales experienced the most sales activity.

The condo market had 22 sales and 122 active listings. The benchmark sale price was $374,200 with 27 average days on market. The hottest market for sales was East Central, 15 sales.

Townhome featured 35 sales and 117 active listings. The benchmark sales price was $566,300 with an average days on market of 30. East Central with 11 sales had the most sales activity.

It’s a seller’s market for townhomes.

The followings are the summaries of the surrounding areas:

Burnaby East

Burnaby North

Burnaby South

New Westminster

Richmond

Ladner

Tsawwassen

Pitt Meadows

Bowen Island

Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org

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